Item - 2022.TA18.1

Tracking Status

This item was considered by Board of Directors of the Toronto Atmospheric Fund on July 13, 2022 and was adopted without amendment.

TA18.1 - Draft Audited Consolidated Financial Statements for the Year Ended December 31, 2021

Decision Type:: ACTION

Status:: Adopted

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Approved transfers of:

a. $522,938 to the Toronto Stabilization Fund;

b. $769,797 to the Ontario Stabilization Fund; and

c. $791,200 to the Canada Stabilization Fund.

2. Approved the Toronto Atmospheric Fund 2021 Audited Consolidated Financial Statements.

3. Received the Auditor’s Letter to Management and Management's response for information.

Origin

(June 28, 2022) Report from the Director of Finance, Toronto Atmospheric Fund

Summary

The 2021 Audited Consolidated Financial Statements and Report have been prepared by Welch LLP and are presented to the Toronto Atmospheric Fund (TAF) Board of Directors for approval. These statements provide separate fund accounting for the City of Toronto, Province of Ontario, and Government of Canada endowment funds.

Background Information

(June 28, 2022) Report from the Director of Finance, Toronto Atmospheric Fund on Draft Audited Consolidated Financial Statements for the Year Ended December 31, 2021
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-228395.pdf
Attachment 1 - Draft Auditors� Report to the Audit Committee
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-228396.pdf
Attachment 2 - Draft Consolidated Financial Statements for Toronto Atmospheric Fund for the Year Ended December 31, 2021
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-228397.pdf
Attachment 3 - Auditor�s Letter to Management with Management Response
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-228398.pdf

Motions

Motion to Adopt Item moved by Parminder Sandhu (Carried)